Price controls
Tuesday - 17Jul2018 Filed in:
Quotes & Thinkums&Free Markets““Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.””
— Thomas Sowell
Tags: Thomas Sowell ∙ price controls ∙ demand ∙ supply ∙ quality deteriotes ∙ black market